INSEAD Day 4 - 728x90

Borouge okays $656m dividend

The company said dividend reflects its resilience

DEWA posts record H1 profit

Revenue reaches record $4.04 billion.

Tabreed H1 revenue $308m

Blurb: Profit reaches $52 million in H1

ADNOC L&S to expand fleet

It will acquire 11 carriers for $1.3bn.

Empower profit climbs 16%

Dubai district cooling demand lifts earnings

Petrofac Emirates awarded $700m ADNOC Gas Procession EPC contract

The contract, awarded to Petrofac Emirates, is valued at approximately US$700 million and involves the Engineering, Procurement and Construction of a new gas compressor plant. (Petrofac)
  • The contract was awarded to Petrofac Emirates and involves the construction of a new gas compressor plant, aimed at bolstering gas output from the Habshan Complex.
  • The new plant, expected to play a pivotal role in increasing gas production, will consist of three gas compressor trains, as well as associated utilities and power systems.

Abu Dhabi, UAE – ADNOC Gas Procession, an ADNOC subsidiary, has awarded $700 million contract to Petrofac for Engineering, Procurement, and Construction (EPC) project at its Habshan Complex.

The contract was awarded to Petrofac Emirates and involves the construction of a new gas compressor plant, aimed at bolstering gas output from the Habshan Complex.

The new plant, expected to play a pivotal role in increasing gas production, will consist of three gas compressor trains, as well as associated utilities and power systems, Petrofac said in a statement.

This venture will enable ADNOC to substantially augment its gas production capabilities at the Habshan Complex, located west of Abu Dhabi, the statement said.

Expressing his enthusiasm, Tareq Kawash, Petrofac’s Group Chief Executive, stated, “We are thrilled to have been selected by ADNOC, one of Petrofac’s longest-standing customers, to undertake this significant new EPC project in our home market of the UAE. We very much look forward to working together with ADNOC to safely and sustainably develop this critical energy resource.”

Elie Lahoud, Chief Operating Officer of Petrofac Engineering & Construction, said, “Petrofac has a long and strong track record supporting ADNOC in the UAE, rooted in our steadfast commitment to maximizing local delivery, investing in the local supply chain, and developing local teams. This focus on In-Country Value will once again underpin our approach to delivery for ADNOC on the strategically significant Habshan Complex.”